A simple explanation

I have a few stocks and shares which are looked after by my Investment Broker who has sent me his own laid back explanation about the Greek Bail-out and the European problem which I thought you be interested in:

"There is so much press coverage regarding the turbulent situation in Europe so here's how the complicated financial system actually works...........

It is a slow day in a little Greek Village, the rain is beating down and the streets are deserted. Times are tough, everybody is in debt, and everybody lives on credit.

On this particular day a rich German tourist is driving through the Village, stops at the local Hotel and lays a 100 euro note on the desk, telling the owner he wants to inspect the rooms upstairs in order to pick one to spend the night.

The owner gives him some keys and, as soon as the visitor has walked upstairs, the Hotelier grabs the 100 euro note and runs next door to pay his debt to the Butcher. The Butcher takes the 100 euro note and runs down the street to repay his debt to the Pig Farmer. The Pig Farmer takes the 100 euro note and heads off to pay his bill at the Supplier of feed and fuel. The guy at the Farmers Co-op takes the 100 euro note and runs to pay his drinks bill at the Taverna. The Publican slips the money along to the local "Lady of the Night" drinking at the bar, who has also been facing hard times and has had to offer him "services" on credit. The "Lady" then rushes to the Hotel and pays off her room bill to the Hotel owner with the 100 euro note.

The Hotel owner then places the 100 euro note back on the counter so that the rich traveller will not suspect anything. At that moment the traveller comes down the stairs, picks up the 100 euro note, states that the rooms are not satisfactory, pockets the money, and leaves the Village.

No one produced anything. No one earned anything. However the whole Village is now out of debt and looking to the future with a lot more optimism.

And that is how the Greek bail out package works!!!!

For some odd reason I feel reassured enough to leave my stocks and shares in his capable hands!!!!:D